Key Highlights:
- 🌍 African Bitcoin Evolution: Btrust acquires Qala, setting the stage for a groundbreaking transformation in Africa’s cryptocurrency landscape.
- 🤝 Powerful Collaboration: With Btrust’s financial prowess and Qala’s infrastructural might, a brighter future for Bitcoin development is on the horizon.
- ⚡ Embracing the Future: The lightning network integration signals a new era of near-instant, cross-border Bitcoin transactions, promising a globally connected future.
The world of African Bitcoin has witnessed a seismic shift. With Btrust’s acquisition of Qala, the continent is poised for monumental advancements in the realm of cryptocurrency. 🚀
Today, we are thrilled to share a monumental story in our journey. We have officially become part of ₿trust @btrustteam!
— Btrust Builders (@btrust_builders) September 5, 2023
This has led to our rebranding as ₿trust Builders - marking a pivotal shift in our operations to focus on open-source training in Bitcoin and Lightning. pic.twitter.com/kjSkpv8Sbc
Btrust and Qala: A Perfect Marriage? The combined strengths of two crypto-giants aiming for a singular goal.
What Sparked The Union? 🤝
- Date to Remember: Reports on September 6 highlighted a union designed to further Bitcoin’s reach in Africa. While Btrust had the monetary muscle, Qala brought the infrastructural finesse.
- Qala’s Prior Dependence: Before the acquisition, Qala leaned on donations from organizations, bagging notable contributions like $100,000 from the Human Rights Foundation and grants from Coinbase Giving.
The Masterminds: 🧠
- Key Transitions: Qala’s big guns, CEO Femi Longe and program manager Stephanie Titcombe, will now spearhead the newly christened Btrust Builders program.
- Program’s New Aim: Btrust now eyes open-source training, calling upon senior African software engineers to dive deep into Bitcoin and Lightning development.
The Support Behind Btrust: 💰
- Big Names, Bigger Ambitions: Remember when Jack Dorsey and Jay-Z pledged a whopping 500 BTC for Btrust? Their intent was clear: bolster projects in both India and Africa.
- Btrust’s Proactive Moves: Since then, Btrust took initiative, endorsing events such as the Africa Bitcoin Conference from Dec. 5 to 7 in Ghana.
JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: https://t.co/L4mRBryMJe
— jack (@jack) February 12, 2021
The Vision Behind Btrust and Jack Dorsey’s Expectations
Deep diving into the thoughts of those steering the Btrust ship.
Why Btrust? Why Now? 🧐
- Glimpse into Dorsey’s Mind: Focusing primarily on building the Bitcoin ecosystem in Africa and gradually expanding to other regions like India, the objective is clear – grow the ecosystem with maximum transparency.
Operational Transparency: 🔍
- All Cards On The Table: Unlike the typical venture capital equity funding, Btrust aims for grant-based funding. Developers pushing the Bitcoin boundaries will be their primary beneficiaries.
- Communication is Key: As things develop, they pledge to maintain a clear line of communication, sharing progress through platforms like Twitter.
Bitcoin: The Preferred Crypto? 💹
- Why Not Other Cryptos?: The trust’s name says it all. Bitcoin’s open monetary network, unparalleled security, and potential to bank the unbanked, especially in regions like Africa and India, make it the favored choice.
A Future With Lightning: ⚡
- Why Is Lightning Integral?: Companies like Cash App have already seen the merit of integrating with the lightning network, promising cross-border payments that are almost instantaneous.
- Real-world Implementation: Bit knob, an African company, recently demonstrated a lightning transaction from Chicago to Nigeria in mere seconds, heralding a global, instant future driven by Bitcoin.
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Sergio Richi
Editor, Logll Tech News